CHICAGO – Newcastle Limited has purchased 1245 West Jackson Boulevard, a newly constructed, four-story multifamily building in Chicago’s West Loop neighborhood. Tyler Hague and Lauren Stoliar of Colliers International represented Newcastle Limited in the transaction.
The four-story building, developed in 2016, consists of 93 apartments averaging 1,025-square-feet and a 123-car parking garage. The building features condo-quality finishes, private balconies and a rooftop deck.
Located on Jackson Boulevard and Racine Avenue, the property is two blocks northwest of the Racine CTA Blue Line “L” station and close to Rush Medical Center, UIC, Union Station, and access to I290 and 90/94.
“We are seeing strong demand for rental apartments in the West Loop from employees of the area’s new corporate tenants. They want to live close to work and have access to great restaurants, entertainment, and transportation,’ said Mike Haney, CEO of Newcastle Limited. “All of which make this property another great addition to our West Loop footprint and growing Chicago portfolio.”
Newcastle Limited is a real estate investment firm that acquires, develops and owns urban retail and multifamily properties in Chicago. An entrepreneurial investor with institutional backing, the firm can deploy large amounts of capital and close transactions quickly. To learn more about Newcastle, call Michael Haney, CEO, at (312) 252-1401 or visit the company’s website at newcastlelimited.com.